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the debt ceiling without congress saying a peep. now, we couldn't get lincoln and we couldn't get nancy but we did get danny as an illinois democratic congressman danny davis who is fine with all of this. good to have you. thanks for coming. >> well, thank you very much. you know, i agree that lincoln was a bold president and he made some bold and tough decisions and that is why many people think he was one of the best presidents we ever had. >> neil: i would agree he but i would -- i would hasten to add i don't think he would be onboard with playing games with constantly raising the debt ceiling, do you? >> i don't think that we are are constantly raising it but i do believe and i agree with -- >> neil: well, we have done it 52 times in the post war period, right? >> we have done it but we always paid our debts and we don't quibble about paying debts. it is something that we know we have to do. we make them and we must pay them. >> neil: congress appropriates the funds and you can't come back later on and say we are not paying. i do see the wisdom of that. but i see it also in the powe
more money in march. congress has the constitutional authority to set our debt ceiling and has agreed to raise it. tch for a big fight as republicans try to institute some sort of iscal sense that democrats resist. the big events, but there is another one that happened today that congress didnot pass a resolution to recognize that happened. you probably already know about it. the payroll tax has expired, and if you et your first paycheck today says the fiscal cliff, well, watch out. you may be shocked by then nearly 50% increase in the tax. the social security withholding tax reset. for middle-class american familiesearning $50,000, that means at least in $800,000 tax hike, maybe as much as a thousand bucks. if this is the first shot of about, it's not going over too well. here's what people are saying on twitter. if you're asking why my pacheck is less this week,is because you got what you asked for. on it. why is my pacheck bless thi we? because obama loves to penalize the makers and ristribute to the takers. it gets worse. on and on andon. my prediction here is there is no attempt
% popularity of congress during the debt ceiling crisis by blood relatives and paid staffers. we felt by focusing on congress we could both diagnosed the problem and give some prescriptions for how to overcome it. >> which of those prescriptions? >> one of those prescriptions is very simple, which is congressmen need to exercise leadership by mixing my and sets, by putting aside the campaign mindset won enough to govern, and adopting the compromise and might set. in order to do that, they have to have relationships so they should spend more time in washington and less time raising money. and people would say but that is going to hurt them in the next election. we say politicians didn't enter politics just to stand on principle. very few people think that politicians were attracted to politics because they were the most principled people in the population. they were attracted to politics because they want the government that takes leadership and it takes leadership takes relationship. we have this phrase which is familiarity breeds contempt. it is no accident that ted kennedy and orrin
. this time over the nation's debt ceiling. >> fifthsyrian president bashar al-assad addressed his war-torn nation in a rare speech. he stood firm against global calls for him to step down. and proposed a peace process that would leave him in power. the obama administration quickly rejected it. more than 60-thousand people have reportedly been killed during a bloody civil war two years. searching for dozens of people who may be missing in wildfires in southeast tasmania. those wildfires have already destroyed more than a hundred homes. also been evacuated from the tasmania peninsula because the fires have blocked roads in and out of the rural communities. firefighters are having a tough time getting the flames under control because of the rough terrain. but they say they should gain the upper ground this week. >> president obama and the first family are back in washington tonight. after wrapping up their holiday vacation in hawaii. air force one touched down at joint base andrews in maryland earlier this morning. the president interrupted his vacation by flying back to washington to se
for it. >> congress has about two months to fix the debt ceiling before the u.s. may have to default on some bills. >> how is that tough talk going over with republicans? >> not very well. >> republicans who agreed for the president's push for higher taxes during the fiscal cliff battle, now want to tackle spending and raising the debt limit as part of the spending problem. we want more bipartisan negotiations and less campaigning. >> and it looks like the second term of barack obama is going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to cut one dime from the last debt ceiling agreement and now here it's time. we've got to stop the madness. >> democratic congressman says it's quote, reckless and irresponsible not to pay bills that are due. >> molly henneberg, thank you. after decades of service to our country, this former general could be found in civilian clothes, not necessarily by choice. general stanley mcchrystal talking about what cut his career short and the man who become the 37th u.s. president was born in a house. the richard nixon
congress narrowly avoideded that catastrophic fiscal cliff, now we're facing another debate, the debt ceiling. many members of congress say the last-minute brinksmanship that happened with the fiscal cliff is not going to be repeated when it comes to raising the debt ceiling. others may not be on board with that. republican matt salmon of arizona had this to say. >> i was here in the government shutdown of '95. it was a divided government, democratic president of the united states and a republican congress. i believe that that government shutdown actually gave us the impetus, as we went forward, to push toward some real serious compromise. i think it drove bill clinton in a different direction, a very bipartisan direction. >> joining me now, l.z. granderson and will cain, both cnn contributors. good morning, guys. >> good morning. happy new year. >> happy new year. i'm so glad to be back. i've been on vacation, and i feel like i'm talking about the same stuff, which i am. i wanted just to lay out the idea of a government shutdown for people who can't remember as as far back as 1995 be
need to raise the debt ceiling, but if we don't raise it without a plan to get out of debt, all of us should be fired." >> reporter: strong words for a new congress, the new years deadline for the so-called "fiscal cliff" has come and gone. now lawmakers start a new session under pressure to avert another financial crisis -- this time over raising the debt ceiling. if an agreement isn't reached by late february or early march, the united states risks defaulting on its financial obligations. the argument this time around will be over how much congress will agree to cut spending. >> "the bottom line is we can't continue down the path we're on of borrowing money to pay our own debt with, and we've got to have serious spending cuts. we've got to have dollar for dollar within the same year." >> reporter: but key democrats say the debt limit and spending cuts are not related, and a deal based on a dollar-for-dollar offset could further damage the country's credit rating. >> "you're going to say i'm not going to pay my bills unless you stop buying stuff? then stop buying stuff so you don't h
with the debt ceiling. and i'm being told, you know, the debt ceiling, the sequester and the continuing resolution to fund government spending is going to be an even bigger fight. so what do you expecting in the next couple of months? >> so we expecting a very messy process. as you just pointed out, there are three things to sort out. the debt ceiling, the sequester and the continue resolution. whenever there's an agreement, maritt romneyomneyryia, we looko contents and momentum. was the content sufficient, and clearly it wasn't. that's why we have another crisis coming up. but also we got no momentum. it's not as if democrats and republicans came out feeling good about this. they came out feeling bad about this. and, therefore, there's absolutely no momentum for cooperation. so markets better have the seat belt on because we're going to have more political drama in the next few weeks. >> so how does this play out, do you think? there's a lot of talk right now about that 2% tax hike that everybody is going to pay with the expiration of the payroll tax holiday. all talking about the taxe
congress is going to have to deal with the debt ceiling, and i'm being told, you know, the debt ceiling, the sequester and then a continuing resolution to fund government spending is going to be an even bigger fight. what do you expect in the next couple of months? >> the sequester and the continuing resolution. whenever there's an agreement, maria, we look for two elements. content and momentum. was the content sufficient, and clearly it wasn't. that's why we have another crisis coming up. also we've got no momentum. it's not as if democrats and republicans came out feeling good about this. they came out feeling bad about this, and, therefore, there's absolutely no momentum for cooperation, so markets better have the seat belt on because we're going to have more political drama in the next few weeks. we're all talking about taxes going higher on the rich, and, yet, this social security tax is going to hit everybody. what impact will this have? >> so, you're right, in terms of economics, the biggest impact is on the payroll tax because the propensity to consume or put another way how mu
says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth warren coming to terms over legislation? >> i doubt it. there's another thing here that i just want to mention. the president says he will not negotiate a bar raising the debt ceiling. that is paying the bills we have already incurred a, not setting a new standard. he has to negotiate, but he also has the possibility, instead of just letting us rolling the dice as simply saying he's going to break it. if he does that, there will be a court case, but that will take time. >> they want to jeopardize the full faith and credit of the united states by refusing to raise the debt limit, they will pay the consequences. >> you may want to refer to an impassioned speech obama gave in 2006 against raising the debt
the country's debt ceiling without debate. she told face the nation viewers the president has the 14th amendment on his side which states the nation's debt shall always be paid. she says that she and the democratic party will continue to focus on growing and supporting the middle class. >> the class is the strength of our country. and those we have to strength strengthen it and help those who aspire to be it in, be in it. but it's about a sense of community. and this is the epiphany i want them to have, not just we're only here for the wealthiest people and if it trickles down, that's a good thing. if it doesn't, so be it. that's the free market. that's not how we see it. >> pelosi met with hundreds of constituents and colleagues today for the annual new year's celebration in san francisco. meteorologist rob mayeda here. it's probably a good thing that nancy pelosi held that meeting indoors today. >> if you look at today's highs, it roi cool day around the bay area. interesting, the coolest temperatures we had, parts of the south bay and east bay where the clouds really didn't clear ou
to raise the debt ceiling, it is congress' responsibility. he will not engage in a negotiation with congress that as advocates have described as a hostage situation that would result as it did in the summer of 2011 harming greatly this economy and businesses and great harm to average americans. so, it is just not the right thing to do. i think that if we were to travel down the road for any length of time, a great deal of unionimity behind the idea that it is a terrible proposition to flirt or allow default. let me remind you if the position of republicans in congress will be your choice america is between default and therefore economic chaos on the one hand or voucherizing medicare or slashing benefits for seniors. american people will say no. this is not the right way to do things in this country. you have to heed to your responsibilities here including paying for the bill that you racked up. this hases to do with spending that has already been incurred. it is congress' responsibilities to pay their bills. george, when you get a credit card bill, you pay it. if you don't you
, kentucky, democrat. caller: the thing about the debt ceiling and spending, what congress needs to do is start working out a bill for jobs. you get people back to work and you bring in more revenue and taxes. it would increase the revenue. you have less spending. you would not have to -- the deficit is automatic. it should be used to pay the government's bills, which are our bills. we should not be downgraded again. they are using that as leverage as social security, medicare, medicaid are not entitlements. people pay into that. i paid into it. i worked 50 years. i paid into it. it should not be part of any plan to cut entitlements. they are not entitlements. host: bill, twitter -- we have a poll on our c-span facebook page axin asking you if spending should be tied to the debt limit increase. so far, the no's are in the lead. it is one comment on facebook -- rick, virginia, independent. caller: for eight years of bush and dick cheney said we did not have to worry about the deficit. they say taxing is off the table because they have a tax on the rich. what happened to these companies
to fix the debt ceiling before the u.s. will default on some of the bills. >> how is that tough spot going over with repaub cans? -- republicans? >> not very well. thor those who pushed for the higher taxes during the fiscal cliff battle now want to focus on spending. they see raising the debt limit repeatedly is path of the problem. >> looks like the second term of obama will be an in your case term. i am not going to touk with you at all. >> we get to cut one dime nower>> congressman chris van holland said it is irresponsible not to pay bills that are due. after decades of military service two our country the former general can be found in civilian clothes but not necessarily by choice. stan me mccrystal going public for the first time that cut his tahrir short. >> 100 yearing ago the 27th man in the u.s. is in that house. presidential bieb brar reand materials. we will go back tore all of the t-shirts. [ male announcer ] coughequence™ #8. waking the baby. [ coughs ] [ baby crying ] ♪ [ male announcer ] robitussin® liquid formula soothes your throat on contact and the active i
are already being drawn. chief among them whether congress will vote to raise the country's debt ceiling. shortly after lawmakers reached a down to the wire deal on taxes to pull the country back from the fiscal cliff earlier this week, the president tried to preempt the debt limit showdown by firing a warning shot at republicans. he reiterated that call yesterday. >> one thing i will not compromise over is whether congress should pay the tab for a bill already racked up. the congress refuses to give the united states the ability to pay its bills on time, the results for the global economy could be catastrophic. >> congress has vowed to use the upcoming votes to get more spending cuts to entitlement programs like medicare. some are threatening a government shutdown. in a moment, we'll talk to alan simpson and erskine bowles about where they see the fiscal cliff deal leaving the country. they say it falls short. but first, the man who brokered the deal with the white house on behalf of the republicans and no doubt will be a key figure in the battles ahead, the top republican in the senate
pressure to avert another financial crisis, this time over raising the debt ceiling. if an agreement is not reached by late february or early march, the united states risks defaulting on its phenomenon r financial obligations. the argument will be how much congress will agree to cut spending. >> the bottom line is we can't continue down the path we're on of borrowing money to pay our debt. we have to have dollar for dollar cuts. >> key democrats and say the debt ceiling and the tax cuts are unrelated. >> not going to say i'm not going to pay my bills unless you stop buying stuff. so stop buying stuff so you don't have future bills but right now we have to pea the bell for what we incur. i you want to tie it to what we do next, fine. >> the big part of the budget is getting people back to work. >> president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> what is really disappointing to me is that the president isn't generating a discussion on his own help has to be dragged kicking
ceiling. it is congress. he will not engage in an association and with congress that they have described as a hostage situation that would result as it did in the summer of 2011, in great harm to this economy and to american business. it is not the right thing to do. if you are to travel down that road for any time, let me remind you it the position of republicans in congress will be that your choice america is between default and economic chaos. the american people are going to say no. this is not the right to say no. that tahiti irresponsibility is. that includes paying for the -- that includes responsibilities. it is congress's response ability pay its bills. when you get a credit card bill you pay it. if you do not you get penalized. in the case of not paying your bills when you are the united states congress the penalty is both real and severe for the economy and american people. the president will not negotiate over congress for the response ability to pay for their own bills. he did not sign all of the spending bills. he has been on this for four years. this was racked up under th
latry raise the debt ceiling. but some disagree and urge him to do that. he said he will not negotiate with congress at all. so you have to think that is at east in the background. this briefing this morning said the treasury could exhaust the extraordinary measures tyler as early as february 15th, which is earlier than most expected. that a fight, this whole debt ceiling fight, which is coming, is one that will dwarf whatever is going on on the chuck hagel confirmation front. >> john, thank you very much. we will be back with you and the white house in a couple of moments as the president gets set to his announce secretary of defense and director of cia. two major settlements in the housing industry, including bank ever america's $10 billion deal. yeah, you heard me right. with fannie mae. we will have the details and what it means for you, the investor, after this short break. st find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a
deal, no doubt. >>> congress is gearing up for the next fight over whether to raise the u.s. debt ceiling. that's expected to come sometime in february. democrats plan to push for a balanced approach for more tax revenues for the rich as well as spending cuts. senate majority leader mitch mcconnell is ruling out any tax hike. >> the tax issue is finished, over, completed. that is behind us. now the question is what are we going to do about the biggest problem confronting our country? and our future? and that's our spending addiction. >> if mitch mcconsl going to draw that line in the sand, it's a recipe for more gridlock. we have to take a balanced approach to long-term deficit reduction. >> republicans want big cuts in programs like medicare and social security as a condition for raising the debt ceiling. >>> and u.s. regulators may announce a $10 billion settlement today over bad foreclosure practices. the "new york times" first reported the deal last week said 14 banks, including citigroup, jpmorgan and the bank of america are involved. nearly $4 billion will go to people who l
. all this sets the stage for a fight over the debt ceiling. the president has already said he's not willing to have. >> last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> it's a shame that we have to use whatever leverage we have in congress to get the president to deal with the biggest problem confronting our future. and that's our excessive spending. >> let's bring in and say good morning to senator bernie sanders, independent senator from vermont who caucuses with the democrats. it's great to have you here. let's look back at this. after voting to hike taxes for higher income earners in this country, republicans say that the revenue debate, that's over. it's behind them. however, the president, leader pelosi and even you are now ready to go after corporations that in some cases pay no taxes at all. house speaker john boehner has signaled a mild openness to closing loopholes. do democrats smell blood in the water here? and is that where this potential is coming f
does that mean for the three major debates ahead? the battle over the debt ceiling, sequester, the continues budget resolution? >> that's to my point. right now all the committees of congress should be meeting. the people on agriculture should be saying what can we do to make cuts here and make some changes there? the defense appropriations committee should be meeting. the housing committee should be meeting. all the various appropriating and authorizing committees should be meeting. and be involved in this process instead of leaving it to the last minute to three people. you can't run a country that way. like i said, you can't run a business that way. if i spent as little time running my business as the congress does conducting its business, why, we would have been out of business a long time ago. >> minnesota congressman rick nolan. again, congratulations. and come back and see us again. thank you so much. >> thank you. delighted to be here. >>> that wraps up this hour of "jansing & co." >>> coming up next on the agenda, the political calculations of picking senator chuck ha
into the debt ceiling limit and whether you go past it. here is what the president said about that on tuesday. let's list. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. far worse than the impact of a fiscal cliff. >> congressman jordan back in 2011 when we had the debate you advocated going past the debt ceiling deadline saying it wouldn't be such a bad thing. would you advocate that again this year? >> i advocated a solution and not a deal. it is no wonder the president doesn't want to debate this. if i had prosided over the four annual highest deficits in american history, $5 trillion increase in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cut
crisis. this time, over raising the debt ceiling. if an agreement is not reached by late february or early march the united states risks defaulting on its financial obligations and the altru will be on how much congress will agree to cut spending. >> the bottom line is that we can't continue down the path we're on to borrow money to pay our own debt. we have have to have serious spending cuts. >> reporter: key democrats say they are not related. >> people are going to say i will not pay my bills unless you stop buying stuff, well stop buying stuff so you don't have future bills, but right now we have to pay the bills that have been incurred. don't tie it to the debt ceiling. >> reporter: a big part of balancing this budget is in fact, getting people back to work? >> that balances us twice and that another is big piece of it. >> reporter: president obama says he will not neglect can congress on whether they should pay their bills. some republicans are questioning his fiscal leadership. >> what is really disappointing to me is that the president isn't generating the discussion o
to that before you do. okay. the president on this whole upcoming debt ceiling debate again. >> obama: one thing i will not compromise is whether or not the congress should pay the tab for a bill they've racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. >> stephanie: mitch says it is a shame we have to use whatever leverage we have in congress to get the president to deal with the biggest problem confronting us. it is a shame. it's a shame we have to take hostages again but we have to. >> the tax issue is finished, over. completed. that's behind us. now the question is what are we going to do about the biggest problem confronting our country? and our future. and that's our spending addiction. it is time to confront it. the president knows that. he's mentioned it both publicly and privately. the time to confront it is now. >> we have to get rid of the free loading old people. sick people. >> stephanie: he suggested making them into mulch. right. sorry. >> save lots of money that way.
in march. you have the sequestration deadline and the debt ceiling hitting at the same time. this is going to be a three ring cliff, three cliff circus coming up very soon. and if you have this group that doesn't believe in compromise, it's going to be very hard to get through this wouithout a lo of blood in the water. >> i hope this goes away. anyway, thank you. thank you, it ought to be about building, not destroying. thank you. anyw anyway, when we return, let me finish with why i think the nomination for defense chief should be given a solid chance. i'm putting it that way, you're watching, "hardball," the place for politics. ident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands? if we took the already great sentra apart and completely reimagined it? ...with best-in-class combined mpg... and more interior room than corolla and civic? ...and a technology suite with bluetooth, navigation and other handy stuff? yeah, that would be cool. introducing the all-new nissan sentra. it's our most innovati
on stocks. it will be great if we got some clarification on where we will go with the debt ceiling. it does not bode well for stocks taking off. the other concern i really have is bottoming of estimates, it is far too euphoric. if we went back a year ago, you at the north of 110. we came in under $99. you really only have about 3.5- 3.5-4% gdp growth. it does not bode well. when people build and high expectations and there is disappointment, it is not good for stocks in general. dagen: you have a market that is slightly down. if stocks tumble or falter, do you think interest rates will go lower which will thereby make longer-term treasuries a haven in the short run. >> the federal debt is over 16 million. nobody in their right mind should lend the government thirty-year money. the other point i would also make is that the consumer is pretty much tapped out. even with the 2% increase. people are losing out to inflation and gdp. consumer installment that have skyrocketed it really does not hold well for the consumer and growth in the economy. dagen: thank you for that. scott, thank you. it wa
of defaulting on its financial obligations. that sets up a fight over the debt ceiling. the main point of leverage congressional republicans to as their chance to bargain over fiscal issues as we whoevered dangerously close to the fiscal cliff. remember president obama says there will be no debate whether congress votes to raise our country's debt limit. >> one thing i will not compromise over, whether congress pays the bill for a tab they racked up. if congress refuses to give the united states the ability to pay its bills. it could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. >> reporter: gop leaders in the house and senate, brace yourself, mr. president. you better believe there is going to be debate. congressman jim jordan says that is what the american people expect. >> let's do it for a change instead of saying give us more revenue. we promise we'll cut spending later. give us more borrowing authority, let us run up the credit card we promise to cut of the this is the old, lucy, charlie brown, the football, the american
of the stick of you will. c-span: here's your 1995 talking about about the debt ceiling. >> when you look at bond markets are stock markets, they are future oriented and so the market, when we have a debate in congress, if the market perceives we are going to get our deficit and spending under control, then it's just as easy for the bond market to shoot up and the long-term bond market did go up. however, if we focus on the crisis, the immediate crisis and just kind of give away all the spending programs and not really cope with the deficit, the bond market can go down because it says well look these guys are serious about the future. c-span: in 1995, our debt was $5.5 trillion in today at 14.3 and that is probably higher than that. how far can we go into debt? >> guest: i think there is a limit. i think one of the things that has happened to serve us very well is that our country has been maybe the most stable country in the world and people are willing to buy our debt. that is the chinese or the japanese and other people are willing to pick up these treasuries. c-span: let me put on the
that whole government thing down. >> none of us like using these situations like the sequester or the debt ceiling or the depreciation of government to try to engage the president to deal with this. it's a shame we have to use whatever leverage have in congress to get the president to deal with our future with excessive spending. >> jennifer: it was yesterday he said that, but i'm sure he still believes it today. everybody agrees we have to cut spending for long-term purposes. the disagreement is over the length of time. joining me now is pulitizer prize winner hedrick smith, he is the author of the new book "who stole the american dream?" so glad to well you inside "the war room." >> so good to be with you. >> jennifer: do you think the middle class is a casualty of this kind of political wrangling in washington. >> i think it goes further back than that. it starts with a huge power shift that took place in washington back in the 1970s. we think of middle class prosperity as a time when the economy worked much better but the politics worked much better as well. we ha
things on the president's agenda coming up include immigration gun control and the debt ceiling. the treasury is slated to lose borrowing power by the end of february unless congress agrees to raise the limit. spending cuts kick out on march 1st to every federal program. on the issue of gun control, the joe biden led tackle force has not reached any plans yesterday but according to "the washington post," the group is considering requiring universal background checks for all gun biers and harsh penalties for carrying guns near schools or giving them to miners. they would track the movement and sales of weapons through the national database. more bill press show coming up after the break. we are live in our chat room. join us there at current.com/billpress. see you there. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the
Search Results 0 to 31 of about 32 (some duplicates have been removed)